The Maryland Real Estate Market: 2024 Trends

I want to... 🏠 Sell my home | 🗝️ Buy a home | 🗺️ Find a new place to live in Maryland

💡 Key Maryland housing market facts

Data PointValueRankCompared to National Avg
Typical Home Value $418,438[1]#16 of 50 states14.1% higher
Median Listing Price $425,000[2]#24 of 50 states3.5% lower
Median Sale Price $512,500[3]#12 of 50 states22.5% higher
30 Year Mortgage Rate 7.05%[4]#42 of 50 states1.1% higher
Median Days on Market 37[5]#1 of 50 states34.2% shorter
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🗺️ Buying a house in the Maryland real estate market

Maryland has an affordability score of 5.9, meaning it takes 5.9 years of the median household income ($87,063) to afford Maryland's median home sale price ($512,500). Because of this, we rank Maryland as the 25th most affordable state for buyers based strictly on prices compared to income.

Data PointValueRankCompared to National Avg
Median Sale Price $512,500[6]#12 of 50 states22.5% higher
30 Year Mortgage Rate 7.05%[7]#42 of 50 states1.1% higher
Median Household Income $87,063[8]#1 of 50 states34.9% higher
Affordability Ratio 5.9#25 of 50 states7.9% lower
Buyers Agent Commission 2.55%[9]#17 of 50 states0.5% higher
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Resources for Maryland home buyers

🗺️ Selling a house in the Maryland real estate market

According to our detailed survey of Maryland real estate agents, listing agents (those representing the seller) charge an average commission in Maryland of 2.75%, which is the 23rd lowest in the United States. Buyers' agents charge an average commission of 2.55%, which is the 17th lowest in the United States.

Data PointValueRankCompared to National Avg
Median Listing Price $425,000[10]#24 of 50 states3.5% lower
Median Sale Price $512,500[11]#12 of 50 states22.5% higher
Median Days on Market 37[12]#1 of 50 states34.2% shorter
Buyer's Agent Commission 2.55%[13]#17 of 50 states0.5% higher
Listing Agent Commission 2.75%[14]#23 of 50 states1% higher
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Resources for Maryland home sellers

Moving to Maryland

According to our recent moving trends survey[15], 7% of Americans indicated that they would choose to move to Maryland if money were no object. Likewise, 8% of survey respondents indicated that they would move to Baltimore among a choice of America's largest cities.

Here's how Maryland cities rank in a number of our research studies.

StudyBest Maryland cityRank
Best Pizza Cities[16]Baltimore16th best
Best Coffee Cities[17]Baltimore25th best
Best LGBTQ Cities[18]Baltimore14th best
Best Bike Cities[19]Baltimore19th best
Best Commuter Cities[20]Baltimore37th best
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Article Sources

[1] Zillow – "Zillow Home Value Index". Updated October 31, 2024.
[2] Realtor.com – "Realtor.com Data Library". Updated October 2024.
[3] Redfin – "Redfin Data Center". Updated October 2024.
[4] Bankrate – "Bankrate". Updated November 2024.
[5] Realtor.com – "Realtor.com Data Library". Updated October 2024.
[6] Redfin – "Redfin Data Center". Updated October 2024.
[7] Bankrate – "Bankrate". Updated November 2024.
[8] US Census – "US Census, 2020 American Community Survey". Updated 2020.
[9] Clever Real Estate – "Clever Real Estate survey of American real estate agents". Updated November 2024.
[10] Realtor.com – "Realtor.com Data Library". Updated October 2024.
[11] Redfin – "Redfin Data Center". Updated October 2024.
[12] Realtor.com – "Realtor.com Data Library". Updated October 2024.
[13] Clever Real Estate – "Clever Real Estate survey of American real estate agents". Updated November 2024.
[14] Clever Real Estate – "Clever Real Estate survey of American real estate agents". Updated November 2024.
[15] Home Bay – "Half of Americans Are Surprised by How Much It Costs to Move". Updated February 26, 2024.
[16] Clever Real Estate – "The 15+ Best Pizza Cities in America". Updated February 12, 2024.
[17] Clever Real Estate – "The Best (and Worst) Coffee Cities in America". Updated January 12, 2024.
[18] Clever Real Estate – "The Most (and Least) LGBTQ-Friendly Cities in America". Updated October 23, 2023.
[19] Clever Real Estate – "The Most Bike-Friendly Cities in the U.S.". Updated July 17, 2023.
[20] Clever Real Estate – "The Best (and Worst) Cities for Commuters". Updated September 21, 2023.

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